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Article: In Brief: Amerus Purchases Indianapolis Life.(Amerus Group, Indianapolis Life Insurance Co.)(Brief Article)(Statistical Data Included)
- Article from:
- American Banker
- Article date:
- May 22, 2001
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Amerus Group, a life insurance and annuity company, has completed its purchase of Indianapolis Life Insurance Co.
The announcement came Monday, the same day Indianapolis Life's demutualization took effect.
Over the next six to eight weeks, eligible Indianapolis Life members will receive Amerus common shares, cash, and policy credits equal to the value of 9.3 million shares of Amerus Group common stock. Amerus' closing price Friday of $34.90 a share makes the deal worth about $324.6 million.
Indianapolis Life will retain its name and its Indianapolis headquarters. Roger K. Brooks, Amerus Group's ...